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UBS accused of racial bias

UBS, Europe's largest bank, is accused in a lawsuit of discriminating against black brokers and other professionals by assigning them to lower-ranking positions than whites and denying opportunities for promotions.

The class-action suit, which was filed in Manhattan federal court, was brought on behalf of blacks who worked at UBS Financial Services or sought jobs there as brokers, non-broker officers, and in other professional positions.

'Most of the minority brokers who worked there, including two of the plaintiffs, were eventually terminated,' according to a press release issued by the law firm of Berger & Montague, which brought the suit.